lou: on this broadcast we never talk about the fiscal cliff without referring to the incipient cause, there rid of it all, and that is why i believe it is entirely appropriate told the president accountable for the fiscal cliff because this is the oly bullish and work here. it is this president who s decided to issue an ultimatum. fit on taxes and being raised on nly 2 percent of the people. secondly, insisting that he debt ceiling issue be compounded with it all. this is without question an ultimatum, the consequces are his. what do you think? >> well, i am afraid that even though the consequences are his, the consequences for the economy will be his. i think he is betting, i think there is pretty good evidence right now that he is betting that he can win this argument because the media and his megaphone enable him to persuade the american people that the republics will be the case of the troubles that we will face if we go over the cliff. lou: history is littered with examples of thse to proceed and rationally so but came up against creative, energetic opposition tt found a way to p